UPDATED:
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Square Footage 1,572 sqft
Price per Sqft $477
Subdivision Mitchells Beach Rev
MLS Listing ID O6391215
Bedrooms 6
HOA Y/N No
Year Built 1959
Annual Tax Amount $4,805
Lot Size 3,920 Sqft
Acres 0.09
Property Sub-Type Duplex
Source Stellar MLS
Property Description
Rare opportunity to own a fully renovated, income-producing triplex just one block from the Gulf beaches in desirable Madeira Beach. Two of the three units are currently leased, generating $3,600 per month in rental income, with the third unit available to lease, occupy, or use as a seasonal residence—offering immediate cash flow with additional upside.
The property features two 1-bedroom, 1-bath units and one 2-bedroom, 1-bath unit, making it an ideal investment for seasonal residents, traveling professionals, or those seeking extended beach stays. The area is well suited for 90-day+ seasonal rentals, providing strong demand while minimizing the turnover associated with STR rentals.
Property Highlights
Income-producing property with two leased units generating $3,600/month
Opportunity to lease the third unit and achieve projected rental income of $6,000+ per month ($72,000+ annually)
One block from Madeira Beach
Approximately a 5-minute walk to John's Pass Village, restaurants, shops, and marina
Multifamily zoning with potential for duplex through quadplex development (buyer to verify all zoning and redevelopment opportunities)
New HVAC systems and water heaters
Updated kitchens, bathrooms, flooring, and fixtures
Turnkey, low-maintenance condition
Located in a high-demand beachside area with excellent long-term appreciation and rental potential
Whether you're an investor seeking immediate cash flow, a buyer looking to maximize rental income, or a house hacker wanting to live in one unit while the others generate income, this renovated beachside triplex provides a rare combination of location, flexibility, and long-term value.
Location
State FL
County Pinellas
Community Mitchells Beach Rev
Area 33708 - St Pete/Madeira Bch/N Redington Bch/Shores
Direction E
Interior
Interior Features Thermostat
Heating Electric
Cooling Mini-Split Unit(s)
Fireplace false
Laundry None
Exterior
Exterior Feature Balcony, Sidewalk, Storage
Utilities Available Electricity Available, Electricity Connected, Sewer Available, Sewer Connected, Water Available, Water Connected
View Y/N No
Water Access No
Roof Type Shingle
Garage false
Private Pool No
Building
Foundation Slab
Lot Size Range 0 to less than 1/4
Sewer Public Sewer
Water Public
Structure Type Block,Stucco
New Construction false
Others
Senior Community No
Ownership Fee Simple
Acceptable Financing Cash, Conventional, FHA, Other, VA Loan
Listing Terms Cash, Conventional, FHA, Other, VA Loan
Special Listing Condition None
Virtual Tour https://www.propertypanorama.com/instaview/stellar/O6391215
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Marianne Knowles
Realtor; Team Leader of EveryDay Tampa Bay | License ID: SL3419643
Realtor; Team Leader of EveryDay Tampa Bay License ID: SL3419643